CHAPTER 6: TRANSPORTATION- Students will investigate the purchase of a vehicle. They should look into buying or leasing a vehicle. The monthly car payment will be included after it is set by the car dealership or the bank that is financing the loan for the car. Factors to be considered in buying a vehicle would be the current interest rates on car loans, the cost of a certain vehicle, the reliability of a used vs. new vehicle, taxes on the vehicle purchased, gas mileage, and the impact of the monthly payment on their budget. Additionally, the student should determine the personal property tax associated with their vehicle and include that in their budget.
*NOTE: The student will assume that they have no vehicle when they leave school. This may not happen in someone’s actual experience; but for the purposes of this project, everyone must purchase a vehicle. (SOL.GOVT. 15.a, 16, 17)
Chapter 6 Requirements Summary Page to include:**
A description of the vehicle you are purchasing, including its cost, age/mileage and condition (with respect to future maintenance costs), useable interior or exterior space, gas mileage, personal property tax amount, and other important features.
Additional Required Information:
Advertisement with description, cost, photo, and source of the vehicle highlighted.
CarFax (if available) for used vehicles
Completed sample loan application from a car dealership/financial institution, with information on current interest rates for car loans*.
*Resources Go to a search engine like Google, ask.com, altavista.com, and type in “Interest Rate Calculator.” There you will find a number of sites that assist in calculating interest rates for your loans. Kelley Blue Book: www.kbb.com; NADA Car buying guide: www.nada.com
*NOTE: The student will assume that they have no vehicle when they leave school. This may not happen in someone’s actual experience; but for the purposes of this project, everyone must purchase a vehicle. (SOL.GOVT. 15.a, 16, 17)
Chapter 6 Requirements
Summary Page to include:**
- A description of the vehicle you are purchasing, including its cost, age/mileage and condition (with respect to future maintenance costs), useable interior or exterior space, gas mileage, personal property tax amount, and other important features.
Additional Required Information:*Resources Go to a search engine like Google, ask.com, altavista.com, and type in “Interest Rate Calculator.” There you will find a number of sites that assist in calculating interest rates for your loans. Kelley Blue Book: www.kbb.com; NADA Car buying guide: www.nada.com
Car Dealerships:
- Apple Ford
- First Team Auto
- Berglund Toyota
- Billy Craft Honda
- Lynchburg Mazda
- Pinkerton Chevrolet
- Rick Woodsen Honda
- Shelor Motor Mile
Loans- Auto Loan Calculator
Taxes